Understanding Business Management Process 6

These flashcards cover key concepts, definitions, and roles related to the management process as discussed in the lecture.

Management

The process of coordinating people and other resources to achieve organizational goals.

Planning

The process of establishing organizational goals and deciding actions to accomplish them.

Contingency Plan

Alternative courses of action if original plans are disrupted or ineffective.

Organizing

The grouping of resources and activities to accomplish some goal(s) efficiently and effectively.

Leading

The process of influencing people to work toward a common goal.

Motivating

Providing reasons for people to work in the best interests of the organization.

Controlling

The process of evaluating and regulating ongoing activities to ensure that goals are achieved.

Technical Skills

Knowledge and experience needed to perform specific tasks.

Analytic Skills

The ability to identify problems and develop solutions.

Interpersonal Skills

The ability to effectively deal with people and manage interpersonal relationships.

Decision Roles

Managerial roles involving making decisions such as resource allocation and problem handling.

Interpersonal Roles

Roles that involve interaction and relationship management, such as being a figurehead or leader.

Informational Roles

Roles focusing on the management of information, including monitoring and disseminating information.

Authoritarian Leadership

A leadership style where the position commands authority and direction.

Laissez-faire Leadership

A leadership style that allows employees to manage themselves with minimal interference.

Democratic Leadership

A leadership style that holds final authority while valuing delegation and collaboration.

Total Quality Management (TQM)

An approach to improving quality that focuses on customer satisfaction and continuous improvement.

Mission Statement

Defines the basic purpose and objectives of an organization.